Business Strategy Strategic Risk Mangement

Question: Discuss about the Business Strategy for Strategic Risk Mangement. Answer: Introduction: Resources and core competences of a company signify the strength of a company. It is based on the availability of the resources and core competencies that a company successfully competes in the competitive market (Greene, Brush and Brown 2015). The discussion is based on the case study of Rocket Internet, a Berlin based start up incubator and venture capital firm. Resources of an organization are the assets and other things available to an organization that helps in the production process. The resources include human resource, capital or monetary resources and raw material used for production. Importance of the availability of different resources depends on the nature and type of the organization (Hansen and Rocha 2016). In case of a software company, human resource is the most important resource because the complete functionality of the organization depends on the ability of the human working for the organization. If the situation of Rocket Internet has to be considered, the primary resource of the company is the Human Capital. The three brothers act as the basic infrastructure of the Company. All the ventures of the Company are carried on with the ability of these owners. Other resources of the company might include the machinery and other equipment required for carrying out the business activities (Skarzynski and Gibson 2013). Computers, internet network and other technological supports are the raw materials required by the company to achieve their target (Frigo and Anderson 2012). Therefore, it can be said that the major resource of the Company is Human Capital that include the three brothers and others working for the Company. Core competencies of a company or organization are its unique features and capabilities that provide a competitive advantage to the company (Greene, Brush and Brown 2015). It is based on the particular core competency, that a company is able to fight the increasing competition in the market. Core competencies typically consists of fundamental knowledge, ability of the person and their expertise in a specific subject area (Frigo and Anderson 2012). It is on the basis of the core competencies, a company can reach out a global market and cannot be replicated easily by other competitors. In the case study, it can be said that the core competency of the business firm is their ability to copy other resources in the fastest possible time and reach it out far and wide around the globe. Rocket Internet has been successfully imitate the online shopping version of eBay and created a German version of it; later, sold it for $50m to eBay. Owner of the company, The Samwer Brothers have became experts in spotting and promising business models. The company had acquired several other business ventures of imitating the original idea and had been successful in their business (Kashi and Friedrich 2013). Therefore, the successful ideas of imitating successful business ventures that the Brothers come up with can be considered as the core competency of their business. References: Frigo, M. and Anderson, R.J., 2012.Strategic Risk Mangement: The New Core Competency. John Wiley Sons Limited. Greene, P.G., Brush, C.G. and Brown, T.E., 2015. Resources in small firms: an exploratory study.Journal of Small Business Strategy,8(2), pp.25-40. Hansen, M.A. and Rocha, R.S., 2016. The Globalisation Strategy of an Internet Company. Kashi, K. and Friedrich, V., 2013, January. Managers Core Competencies: Applying the Analytic Hierarchy Process Method in Human Resources. InProceedings of the 9th European Conference on Management Leadership and Governance, Reading: Academic Conferences and Publishing International Limited(pp. 384-393). Skarzynski, P. and Gibson, R., 2013.Innovation to the core: A blueprint for transforming the way your company innovates. Harvard Business Press.